President-elect Donald Trump's transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters.

Republicans have long opposed the $7,500 federal tax credit for electric vehicles contained in the Inflation Reduction Act. Now, it seems President-elect Donald Trump's transition team has made that a priority with plans to end the tax credit as part of broader tax reform legislation,